JAY Z. HEADING INTO HOTEL BUSINESS

Jay Z.

Hip-Hop legend Jay Z. is planning on launching a chain of five star hotels.The rap entrepreneur recently purchased a parcel of land in New York’s City's Chelsea, for millions through his company, J Hotels. And now Jay Z. and his business partners, Charlie Blaichman and Abraham and Scott Shnay, have announced their plans for the luxury buildings.The Manhattan spot will be the firm’s flagship location. Estate agent Ronald Solarz, who closed the deal for Eastern Consolidated, says of the property: "West 22nd Street, between 10th and 11th Avenue, is arguably the heart and soul of the West Chelsea High Line district and is a perfect location for an upscale life style-oriented five star hotel." The Big Pimpin’ star already owns the sports bar chain 40/40 Club, in addition to many other ventures in clothing and alcohol branding. Years ago no one would dare to venture into the area which was full of prostitutes and drug dealers, but now the area is one of the hottest places in the city.